France and Germany have never been far away from the top of the Euro 2016 winner market in recent months and they are viewed as the two leading contenders by bet365 who offer 11/4 (3.75) on them both.
Les Bleus came from behind to beat Republic of Ireland and with England failing to make it past Iceland, the draw certainly looks to have been kind to Didier Deschamps' men who have yet to show their best form anywhere near as often as was expected, albeit they haven't needed to do so in order to progress this far.
Joachim Low's side were ruthless in their 3-0 victory over Slovakia and despite a much tougher quarter final assignment, Die Mannschaft are expected to go very close as they look to aim for back-to-back international victories.
Belgium are not far behind the two market principals, priced at 4/1 (5.0) with the online firm. With Marc Wilmots' side strong favourites to beat Wales in the next round and avoiding some of their bigger title rivals until the final, the side who lost 2-0 to Italy in their opening game are now shorter than the Azzurri to win the tournament.
Italy have seen their price contract significantly since beating holders Spain on Monday but Antonio Conte's men face the World champions in the quarter finals with the prospect of France in the semi-final.
With that in mind it's somewhat easier to understand their 6/1 (7.0) quote despite the impressive nature of the performances thus far which have been eye-catching after some indifferent pre-tournament expectations, certainly in betting circles.
Portugal are a best price of 7/1 (8.0) with their next opponents Poland (18/1) the first team with a double figure quote in the market. Such a disparity in prices would certainly suggest the bookmakers expect Fernando Santos' men to make the semi-finals but to have a tougher time should they progress that far.
Wales are 25/1 (26.0) chances ahead of their meeting with the side ranked second in the world on Friday night while Iceland, who provided one of the biggest shocks of the tournament in Nice, are a best price of 40/1 (41.0) to go all the way in France this summer.